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Regions Bank vs Bank of America

Regions Bank is a south and Midwest bank with special reward programs. How does it compare to Bank of America? Read our comparison chart below.

Regions Bank has 1,500 branches in 15 states in the South and Midwest. Checking and savings accounts require just $50 to open, with relatively lower requirements to waive fees. The unique Now Banking solution offers prepaid Visa, savings, and check cashing services with no account required.

While Bank of America is one of the largest banks in the U.S. with over 5,000 locations and 16,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

Compare Regions Bank with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Regions Bank

Bank of America

SPECIAL OFFER
LifeGreen Savings Account – Up to $100 Annual Savings Bonus - Learn More

Read Regions Bank Review

SPECIAL OFFER
Business Advantage - $450 Bonus - Learn More

Read Bank of America Review

 

Benefits and Features

SavingsTwo types of Savings Account - Regions Savings, and Regions Lifegreen Savings. 0.01% APY. Regions Savings Account - minimum opening deposit $50. $5 monthly maintenance fee, unless you have $300 minimum daily balance. Regions Lifegreen Account - minimum opening deposit $50. Must have Regions Checking Account. No monthly maintenance fee.0.03% APY (up to 0.06% if enrolled in Preferred Rewards). $8 monthly maintenance fee, unless you have 1) daily balance of $500, 2) are a Bank of America Preferred Rewards Client, or 3) link your Rewards Savings Account to your Interest Checking Account. Minimum deposit of $100.
CD0.01% - 0.50% APY. Terms ranging from 1 - 72 months. (Promotional rate of 1.25% - 1.50% APY for 9 - 13 Months) $500 minimum opening deposit for CDs with terms 90 days or longer. $2,500 minimum opening deposit for CDs with terms 7 - 89 days.Standard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.80% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $10,000.
Money MarketTwo types of Money Market accounts - Regions Money Market Account and Premium Money Market Account. Regions Money Market: $12 monthly fee. Premium Money Market: $15 monthly fee. 
Customer Service24/7 Telephone Customer ServiceMon-Fri: 8am - 11pm(ET)
Sat-Sun: 8am - 8pm (ET)
ATMsMore than 1900 ATMs in 15 Southern and Midwestern US states.Approximately 15,900 ATMs around the country.
IRA CD0.10% - 0.50% APY. (Promotional rate of 1.25% - 1.50% APY for 9 - 13 Months) Terms ranging from 6 months - 72 months. $250 minimum opening deposit.Standard Term CD: 0.03% - 0.75% APY. Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.80% APY. Terms of 12, 13, 25, and 37 months. Minimum deposit of $2,000.
IRA Money Market0.01% APY. Minimum $50 opening deposit. 
LocationsMore than 1500 branches in 15 Southern and Midwestern US states.4600 retail financial centres around the country and brances in more than 40 other countries.
 

CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • $50 to open checking account
  • Relationship Rewards program
  • LifeGreen Savings annual bonus
Cons:
  • No free checking option
  • Limited branches
  • Low savings APY
Pros:
  • National availability
  • Extended customer service hours
  • Full service bank
Cons:
  • No free checking option
  • Low interest rates
  • Many misc. banking fees
Bottom LineSouth and Midwest bank with special reward programs... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Regions Bank: Pricing information from published website as of 07/11/2019 based on 35203 zip code.

Bank of America: Pricing information from published website as of 7/11/2019 based on 91107 zip code.

Which is Better: Regions Bank or Bank of America?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Regions Bank or Chase.

In short: Regions Bank's savings, cd, and checking are notable. Bank of America's mobile app is noteworthy.


Articles on Regions Bank

    Regions Bank Review

    Regions Bank offers a variety of deposit products, easy account opening requirements, and special reward programs. Read on to see if this bank is right for you.

Articles on Bank of America


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